UK rates left on hold - for now

UK interest rates have been held at 5% by the Bank of England's Monetary Policy Committee (MPC).

The move was widely expected, although many analysts now predict that rates will be cut to 4.75% in June.

The MPC's decision came despite a flurry of downbeat data this week which has added to worries about the state of the UK economy amid a global slowdown.

However, rising fuel and food prices means that there are still worries over controlling inflation.